AXIO for Professional Services is a global business software solution powered by Microsoft Dynamics 365, developed specifically for enterprise firms in the professional services industry. AXIO for Professional Services applies universal integration of resources, skill-sets, projects, and finances for unparalleled control over your crucial professional services functions. You will be able to see the end-to-end operations of your firm in one business solution giving you a unique and powerful view in order to make key decisions. AXIO’s enhanced view allows you to analyze each stage of the project delivery experience from opportunity management and project planning, to resource management, customer billing and more.
The top six ways AXIO for Professional Services can better manage your company includes:
1. Complex Contracts Management
AXIO’s advanced view allows for deeper client engagement by providing a 360-degree view of all project-related activities, assignments and related dashboards – all in the cloud. AXIO also provides a simplified interface for contract creation, contract terms, and contract life-cycle management including revenue recognition.
2. Project Accounting and Billing
Advanced financial and project accounting spans all of the important finance processes of your business.
AXIO Project accounting lets you:
- Manage revenue recognition and cash flow
- Project Costing
- Inventory management
- Overhead allocation management
- Enhanced Web Portal for Project Managers
- Global project accounting capability
- Multi-currency at project level
- Advanced Credit Management
- Compliance and Regulatory Support
- Advanced Commissions Management
3. Human Capital Management
AXIO allows you to manage resource forecasts & utilization by role or resource; capture time and expense, including receipt management, corporate credit card management, travel requisition, and cash advances; and take advantage of cross entity resource utilization and project execution based on skillset matching or direct assignment.
4. Revenue Recognition
Microsoft Dynamics 365 for Finance and Operations does not handle the new revenue recognition rules out of the box. Companies running Dynamics GP, NAV, AX, or 365, must take all of their revenue outside ERP, process these complex calculations to figure out what they can recognize today versus what is deferred, and then bring those back in as manual journal entries. Before you start using Excel for this, know that AXIO includes a flexible revenue recognition engine which supports multiple revenue streams: subscription, pay-as-you-go, on-demand, time & materials, and more, while being fully ASC 606 and IFRS 15 compliant.
5. Regulatory Compliance
Optimized for the cloud and mobile-first world, AXIO for Professional Services can also be deployed on premise and is compliant with all GAAP, IFRS, Sarbanes-Oxley, and DCAA requirements.
6. Integration with 3rd Party Payroll Providers
AXIO comes with pre-built integrations to ADP, Ceridian, and UltiPro, and can be configured for many more 3rd party payroll providers. The integration enables you to outsource most of your payroll functions while still collecting and sourcing the data from Microsoft Dynamics 365. This combination enables you to process payroll using Dynamics 365 and have the payroll provider report the associated payroll tax information to federal, state, and local taxing authorities while bringing the fully loaded cost back into Dynamics 365.
Best of all, AXIO combines Velosio’s award-winning implementation methodology, industry expertise, and a rapid deployment model to bring professional service firms the best ERP to meet their needs. For more information about AXIO, check out this video. Let me know if you have any questions about AXIO.
Chief Solution Strategist, Velosio
Robbie Morrison has spent nearly 20 years helping customers build and deploy elegant technology and business solutions. From start-ups to enterprise-class organizations worldwide, his knowledge of the Microsoft Dynamics ecosystem and products helps Velosio customers maximize ROI on technology investments.
Today, Robbie serves Velosio customers in his role as Chief Solution Strategist where he provides thought leadership and manages the development of B2B solutions. Robbie received his MBA from the University of Georgia, Terry College of Business.